MSTS: what changed
Two fiscal years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
MSTS
Largest movements
- Cash -€2,894
down €2,894 (-10.7%), from €26,959 to €24,065
mainly Net result for the year (-€3,522) and Receivables within one year (-€2,211)
- Receivables within one year +€2,211
up €2,211 (+50.7%), from €4,361 to €6,572
of which Trade receivables: +€2,127
- Stocks and contracts -€1,050
down €1,050 (-75.5%), from €1,391 to €341
- Profit (loss) carried forward -€3,522
down €3,522 (-28.2%), from €12,496 to €8,974
- Trade debts +€2,068
up €2,068 (+8544.8%), from €24 to €2,092
- Tax, wage and social debts -€491
down €491 (-96.2%), from €510 to €19
- Other operating charges +€4,263
up €4,263 (+649.3%), from €657 to €4,920
- Write-downs -€3,308
new in 2025: -€3,308
- Gross operating margin -€2,123
down €2,123, from €544 to -€1,579
- Financial charges -€41
down €41 (-22.5%), from €183 to €142
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Cash bridge derived
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €33,493 | €31,548 | -€1,944 | -5.8% |
| Fixed assets | 21/28 | €760 | €570 | -€190 | -25.0% |
| Tangible fixed assets | 22/27 | €760 | €570 | -€190 | -25.0% |
| Furniture and vehicles | 24 | €760 | €570 | -€190 | -25.0% |
| Current assets | 29/58 | €32,733 | €30,978 | -€1,754 | -5.4% |
| Stocks and contracts in progress | 3 | €1,391 | €341 | -€1,050 | -75.5% |
| Stocks | 30/36 | €1,391 | €341 | -€1,050 | -75.5% |
| Amounts receivable within one year | 40/41 | €4,361 | €6,572 | +€2,211 | +50.7% |
| Trade receivables | 40 | €3,061 | €5,188 | +€2,127 | +69.5% |
| Other amounts receivable | 41 | €1,300 | €1,384 | +€84 | +6.5% |
| Cash at bank and in hand | 54/58 | €26,959 | €24,065 | -€2,894 | -10.7% |
| Deferred charges and accrued income | 490/1 | €21 | - | -€21 | |
| Total equity and liabilities | 10/49 | €33,493 | €31,548 | -€1,944 | -5.8% |
| Equity | 10/15 | €32,956 | €29,434 | -€3,522 | -10.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €12,496 | €8,974 | -€3,522 | -28.2% |
| Amounts payable | 17/49 | €537 | €2,114 | +€1,577 | +293.7% |
| Amounts payable within one year | 42/48 | €537 | €2,114 | +€1,577 | +293.7% |
| Trade debts | 44 | €24 | €2,092 | +€2,068 | +8544.8% |
| Suppliers | 440/4 | €24 | €2,092 | +€2,068 | +8544.8% |
| Taxes, remuneration and social security | 45 | €510 | €19 | -€491 | -96.2% |
| Taxes | 450/3 | €510 | €19 | -€491 | -96.2% |
| Other amounts payable | 47/48 | €3 | €3 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €190 | €190 | = | 0.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | -€3,308 | -€3,308 | |
| Other operating charges | 640/8 | €657 | €4,920 | +€4,263 | +649.3% |
| Gross operating margin | 9900 | €544 | -€1,579 | -€2,123 | |
| Operating profit (loss) | 9901 | -€302 | -€3,380 | -€3,078 | -1018.3% |
| Financial charges | 65/66B | €183 | €142 | -€41 | -22.5% |
| Recurring financial charges | 65 | €183 | €142 | -€41 | -22.5% |
| Profit (loss) for the period before taxes | 9903 | -€485 | -€3,522 | -€3,037 | -625.9% |
| Profit (loss) for the period | 9904 | -€485 | -€3,522 | -€3,037 | -625.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€485 | -€3,522 | -€3,037 | -625.9% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.